Warren Buffett Owns 17% of Media General through Exercised Warrants

Warren E. Buffett has just acquired a 17% stake in Media General, Inc. according to a 13D just filed with the securities and exchange commission (SEC). Warren Buffett now owns 4,646,220 shares of the News company. The shares were acquired through exercised warrants, which Buffett had received as part of a deal in May. In June 2012, the Company sold 63 daily and weekly newspapers to World Media Enterprises, Inc., a subsidiary of Berkshire Hathaway, Inc.

Media General has a market capitalization of approximately $100 million. The total value of shares held by Buffett is approximately $17 milion.